Panama

Wikipedia Country Information

Panama ( PAN-ə-mah; Spanish: Panamá [panaˈma]), officially called the Republic of Panama (Spanish: República de Panamá), is a country in Central America. It is bordered by Costa Rica to the west, Colombia (in South America) to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The capital and largest city is Panama City, whose metropolitan area is home to nearly half of the country's 4 million people.
Panama was inhabited by several indigenous tribes prior to settlement by the Spanish in the 16th century. Panama broke away from Spain in 1821 and joined a union of Nueva Granada, Ecuador, and Venezuela named the Republic of Gran Colombia. When Gran Colombia dissolved in 1831, Panama and Nueva Granada remained joined, eventually becoming the Republic of Colombia. With the backing of the United States, Panama seceded from Colombia in 1903, allowing the Panama Canal to be built by the U.S. Army Corps of Engineers between 1904 and 1914. In 1977 an agreement was signed for the total transfer of the Canal from the United States to Panama by the end of the 20th century, which culminated on 31 December 1999.
Revenue from canal tolls continues to represent a significant portion of Panama's GDP, although commerce, banking, and tourism are major and growing sectors. In 2015 Panama ranked 60th in the world in terms of the Human Development Index. Since 2010, Panama remains the second most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness Index. Covering around 40 percent of its land area, Panama's jungles are home to an abundance of tropical plants and animals – some of them to be found nowhere else on the planet.


Instruments ratified: 129 / 282
World Average Ratifications: 114 / 282
Ratification rate: 48.85%
World Average Rate: 41.25%
Weighted score: 54.26%
World Average Weighted Score: 41.25%
World rank: 50 / 194
Central America rank: 2 / 8
Central America Avg. Ratifications: 112 / 282
Developing country rank: 10 / 87
Developing country Avg. Ratifications: 109 / 282
CONTRACTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Agency0/20.00%2.00%8Weak
Conflict of laws0/70.00%3.00%27Weak
E-commerce1/3 (33.33%)33.33%18.00%33Strong
Franchising0/10.00%0.00%1Average
Leasing/Factoring1/2 (50.00%)50.00%5.00%8Strong
Principles, trade usages and standards0/20.00%0.00%1Average
Procurement0/40.00%3.00%31Weak
Sale of Goods0/50.00%25.00%89Weak
Travel contracts0/10.00%3.00%7Weak
Total211.59%9.00%72Strong
 
CUSTOMSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Customs Codification2/3 (66.67%)100.00%78.00%1Strong
Customs Cooperation0/60.00%26.00%117Weak
Exemption from Duties0/90.00%30.00%133Weak
Temporary Admission0/110.00%28.00%126Weak
Transit0/40.00%28.00%98Weak
Total25.43%31.00%151Weak
 
DISPUTE RESOLUTIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Arbitration1/6 (16.67%)25.00%32.00%86Weak
Judicial cooperation1/5 (20.00%)26.32%36.00%76Weak
Recognition of foreign judgments0/20.00%2.00%6Weak
State court jurisdiction0/40.00%14.00%29Weak
State court procedure0/10.00%6.00%12Weak
State immunities 0/10.00%11.00%22Weak
Total220.00%29.00%95Weak
 
ENVIRONMENT AND PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air5/5 (100.00%)100.00%86.00%1Strong
Chemicals1/1 (100.00%)100.00%78.00%1Strong
Energy0/20.00%25.00%50Weak
Flora and fauna9/10 (90.00%)89.13%68.00%17Strong
Foodstuff2/2 (100.00%)100.00%79.00%1Strong
General1/1 (100.00%)100.00%95.00%1Weak
International watercourses0/10.00%18.00%36Weak
Maritime and Law of the Sea14/26 (53.85%)56.52%46.00%73Strong
Protected geographical areas 0/10.00%27.00%54Weak
Waste1/1 (100.00%)100.00%93.00%1Weak
Total3373.44%61.00%43Strong
 
FINANCE, PAYMENTS AND INSOLVENCYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Assignment of receivables0/10.00%1.00%2Weak
Bankruptcy and insolvency0/10.00%21.00%41Weak
Bills of exchange and promissory notes0/40.00%8.00%43Weak
Cheques0/30.00%13.00%36Weak
Credit transfers0/10.00%0.00%1Average
International guarantees3/3 (100.00%)100.00%20.00%1Strong
Total326.83%12.00%16Strong
 
GOOD GOVERNANCE Inst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Corruption2/4 (50.00%)66.67%50.00%34Strong
Cultural Property4/4 (100.00%)100.00%54.00%1Strong
Drugs3/3 (100.00%)100.00%95.00%1Weak
Insider Trading0/10.00%4.00%9Weak
Organized crime2/2 (100.00%)100.00%80.00%1Strong
Total1190.38%68.00%7Strong
 
HUMAN RIGHTS AND LABOUR STANDARDSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Human Rights7/7 (100.00%)100.00%96.00%1Weak
Labour Standards7/8 (87.50%)87.50%86.00%134Weak
Total1493.33%91.00%126Weak
 
INSTITUTIONAL PARTICIPATIONInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Dispute Resolution1/1 (100.00%)100.00%39.00%1Strong
International Trade Law 8/10 (80.00%)80.00%73.00%56Average
Trade support institutions3/6 (50.00%)50.00%51.00%82Weak
Total1270.59%63.00%69Strong
 
INTELLECTUAL PROPERTYInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Broadcasting1/1 (100.00%)100.00%47.00%1Strong
Copyright3/3 (100.00%)100.00%65.00%1Strong
Industrial designs0/20.00%31.00%82Weak
Integrated circuits0/10.00%2.00%4Weak
Neighboring Rights3/3 (100.00%)100.00%46.00%1Strong
Origin0/30.00%14.00%51Weak
Patents3/5 (60.00%)71.43%57.00%60Strong
Trademarks1/6 (16.67%)22.73%33.00%86Weak
Varieties of plants1/1 (100.00%)100.00%37.00%1Strong
Total1256.84%42.00%60Strong
 
INVESTMENTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Investment disputes1/2 (50.00%)50.00%39.00%2Strong
Investment guaranty1/1 (100.00%)100.00%93.00%1Weak
Total266.67%57.00%2Strong
 
PRODUCTSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Marine Resources1/1 (100.00%)100.00%24.00%1Strong
Timber1/1 (100.00%)100.00%31.00%1Strong
General1/1 (100.00%)100.00%92.00%1Weak
Total3100.00%53.00%1Strong
 
TRANSPORT AND TELECOMMUNICATIONSInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Air transport6/7 (85.71%)85.71%59.00%47Strong
Aircrafts and civil aviation 6/9 (66.67%)88.00%74.00%37Strong
Maritime shipping and load lines 10/13 (76.92%)85.71%66.00%55Strong
Maritime transport6/12 (50.00%)33.33%27.00%55Strong
Multi modal transport 0/20.00%4.00%15Weak
Rail transport0/30.00%22.00%50Weak
Road transport0/40.00%31.00%86Weak
Space1/4 (25.00%)16.67%40.00%103Weak
Telecommunications2/2 (100.00%)100.00%47.00%1Strong
Total3157.43%50.00%71Strong
 
TREATIES LAWInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
General1/4 (25.00%)41.67%30.00%41Strong
Total141.67%30.00%41Strong
 
WTOInst. ratifiedCountry scoreWorld avg. scoreCountry rank in worldStrength
Plurilateral Agreements0/20.00%18.00%45Weak
WTO Agreements1/1 (100.00%)100.00%81.00%1Strong
Total145.45%47.00%45Weak
 
Strong
ContractsE-commerce
ContractsLeasing/Factoring
CustomsCustoms Codification
Environment and productsAir
Environment and productsChemicals
Environment and productsFlora and fauna
Environment and productsFoodstuff
Environment and productsMaritime and Law of the Sea
Finance, payments and insolvencyInternational guarantees
Good Governance Corruption
Good Governance Cultural Property
Good Governance Organized crime
Institutional ParticipationDispute Resolution
Intellectual propertyBroadcasting
Intellectual propertyCopyright
Intellectual propertyNeighboring Rights
Intellectual propertyPatents
Intellectual propertyVarieties of plants
InvestmentsInvestment disputes
ProductsMarine Resources
ProductsTimber
Transport and telecommunicationsAir transport
Transport and telecommunicationsAircrafts and civil aviation
Transport and telecommunicationsMaritime shipping and load lines
Transport and telecommunicationsMaritime transport
Transport and telecommunicationsTelecommunications
Treaties lawGeneral
WTOWTO Agreements
 
Average
ContractsFranchising
ContractsPrinciples, trade usages and standards
Finance, payments and insolvencyCredit transfers
Institutional ParticipationInternational Trade Law
 
Weak
ContractsAgency
ContractsConflict of laws
ContractsProcurement
ContractsSale of Goods
ContractsTravel contracts
CustomsCustoms Cooperation
CustomsExemption from Duties
CustomsTemporary Admission
CustomsTransit
Dispute resolutionArbitration
Dispute resolutionJudicial cooperation
Dispute resolutionRecognition of foreign judgments
Dispute resolutionState court jurisdiction
Dispute resolutionState court procedure
Dispute resolutionState immunities
Environment and productsEnergy
Environment and productsGeneral
Environment and productsInternational watercourses
Environment and productsProtected geographical areas
Environment and productsWaste
Finance, payments and insolvencyAssignment of receivables
Finance, payments and insolvencyBankruptcy and insolvency
Finance, payments and insolvencyBills of exchange and promissory notes
Finance, payments and insolvencyCheques
Good Governance Drugs
Good Governance Insider Trading
Human Rights and Labour StandardsHuman rights
Human Rights and Labour StandardsLabour Standards
Institutional ParticipationTrade support institutions
Intellectual propertyIndustrial designs
Intellectual propertyIntegrated circuits
Intellectual propertyOrigin
Intellectual propertyTrademarks
InvestmentsInvestment guaranty
ProductsGeneral
Transport and telecommunicationsMulti modal transport
Transport and telecommunicationsRail transport
Transport and telecommunicationsRoad transport
Transport and telecommunicationsSpace
WTOPlurilateral Agreements

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